Non need-based loan, can be forgiven at a rate of 20% or $3000 per year (whichever is greater) if teaching service is in a critical subject or critical geographic area.

If you teach in both a critical subject and critical geographic area, your loan can be forgiven at a rate of 33 1/3% or $5000 per year (whichever is greater) of full-time teaching

Critical subject areas must be deemed critical at the time of your employment

If you decide not to teach, the interest rate for loans made on or after July 1, 2013, will be 2% higher than the UNSUBSIDIZED interest rate, not to exceed 8.25%. That unsibsidized rate is currently 4.29%.

Funding is limited for this program and is awarded on a first come, first serve basis.